Assetplus raises $3.6 mn

Recently, fintech platform AssetPlus

informed that, in its latest fundraising round, it has raised $3.6 million. This round of funding was led by Bhupinder Singh of InCred and Nithin Kamath of Rainmatter and witnessed the participation of Venture Catalysts, Swaroop “Kittu” Kolluri, Amit Nanavati, Kedar Kulkarni, and other angel investors.

After completing the fundraising round, Assetplus told that it plans to use the raised capital, in fueling the expansion of the business and to offer more financial products on its platform. After raising the fresh funds for the company, Awanish Raj, one of the co-founders, said, "We'll be focusing on product development over the next few years. It will be a challenging yet exciting time for our team."

Assetplus was founded in the year 2018, by Awanish Raj and Vishranth Suresh. The fintech platform offers digital-first solutions to financial advisors and mutual fund distributors. Nithin Kamath, CEO of Rainmatter and Zerodha after investing in the company, commented, "Though the Indian mutual fund industry has grown in terms of AUM, there are just 3.3 crore unique mutual fund investors. If the investor base has to grow, you need lakhs of mutual fund distributors that are growing and thriving. But today, distributors lack the tools and support to grow their businesses, deal with compliance requirements, and support investors. What AssetPlus is building can go a long way in enabling distributors to do more, and we are super excited to join them in this journey."